Framing Analysis
On July 11, 2026, Finance Minister Satsuki Katayama stated that the government would pursue policies encouraging pension funds to increase holdings of Japanese assets. The Government Pension Investment Fund maintains fixed 25 percent allocations across domestic and foreign equities and bonds following its 2025 review, with the next review scheduled for 2030. Overseas assets have outperformed domestic assets in both equities and fixed income over the past decade, while the fund's statutory mandate requires maximization of long-term returns for beneficiaries.